ROTH CAPITAL PARTNERS: Hosting 27th Growth Stock Conference March 8-11 in Dana Point, Calif.
Details on Industry Insight.
Electric visual is in its second season of making luggage and backpacks and so far the product extension is off to a good start.
I got all the details and other Electric updates from co-president Bruce Beach at Surf Expo.
The luggage and backpack line started small but sold out last fall. This fall, Electric doubled the size of the offering and added more backpack styles. The backpacks range in price from $40 to $110.
Retailers have responded well to the bright-plaid colors, which add a nice pop inside stores, Bruce said.
The line has resonated with others, too. When I was talking to Bruce in the Electric booth a random man walked up and tried to buy some luggage.
“We’ve had a big response,” Bruce said. “It’s turned into a nice category for us.”
Electric is also offering a narrow but deep soft goods line of T’s, beanies, caps and fleece and is now on the same production calendar as parent company Volcom.
About 125 of Electric’s best accounts are now carrying the brand’s T’s.
Electric put 125 four-way racks that showcase product like bags, caps and T’s together in stores in 2009, Bruce said.
The goal is to add racks to another 100 to 125 accounts in 2010.
Electric will launch three new goggle styles at SIA next week, and the sunglass market, hit hard by the recession, has stabilized, Bruce said.
New trends include flatter sunglass shapes, and bright colors are still strong. Electric continues to expand its girl’s offering.
Retailers are starting to build back sunglass inventory going into spring, and seem to be going deep in the right styles rather than carrying tons of brands and tons of styles, he said, which is a good opportunity for Electric.
And I have to mention some of Electric's biggest news: the signing of surfer Dusty Payne to an endorsement deal.
"We're really excited," Bruce said.